Global Subsea Cable Equipment Market is valued approximately USD 1.40 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.00 % over the forecast period 2020-2027. The subsea cables equipment is used between land-based stations to benefit the telecommunication sector to carry signals across stretches of sea and ocean. These cables are laid down with the help of specially-modified ships that carry the submarine cables on board and slowly lay it out on the seabed as per the instructions given by the cable operator. Further, technological advancements have played a crucial role in molding the overall growth of the market. As advancements made in the transoceanic communication space have positively favored the demand for subsea cable equipment. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. Also, the surge in the number of offshore projects, including offshore wind power generation and construction of several new oilrigs in different locations has led in growth of the market. As per the report published by the Information Technology & Innovative Foundation (ITIF) in 2019, maintaining and deploying cables is an expensive undertaking. Since 1990, around $48 billion has been invested in submarine cables, and almost half of these funds have been invested in America. Similarly, over 2019-2021, more than 50 submarine projects have been proposed, worth an investment of $7.2 billion. About 30% of the expected deployment will be in the Asia-Pacific region, with many projects aiming to increase capacity and reduce latency between Australia, United States and Asia. The region with the 2nd largest amount of activity is the Atlantic, with around 21% of planned investments and then the Indian Ocean which is anticipated to witness around 17% of the investments in coming years. In addition, the Australia’s Overseas Development Assistance (ODA) provided $3.9 billion and the country is using these funds for the deployment of undersea internet cable. However, increasing natural disasters is hampering the growth of the market during the forecast period of 2020-2027.
The regional analysis of global Subsea Cable Equipment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region as it is projected to endure its control on the global subsea cables market. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Gray Diving Services Pty Ltd
Hong Kong Marine Contractors Limited
KT Submarine Co. Ltd
NTT World Engineering Marine Corporation
Oceaneering International, Inc.
S. B. Submarine Systems Co., Ltd
Soil Machine Dynamics Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Offshore Wind Power Generation
Inter-country and Island Connection
Offshore Oil Rigs
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Subsea Cable Equipment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers